ORS 261.360¹
Authority to issue general obligation bonds

(1) When authorized by a majority of its electors voting at any primary election or general election or at a special election, at which special election not less than 25 percent of the electors of the district voted on the question, any district may issue and sell general obligation bonds so conditioned that the district shall therein and thereby unconditionally undertake, promise and agree to pay the same in whole or in part from revenue or from taxes or both.

(2) The general obligation bonds of the district outstanding at any time shall not exceed two and one-half percent (0.025) of the real market value of all taxable property within the limits of the district.

(3) General obligation bonds may be made payable primarily from and secured by a lien on and pledge of the revenues derived by the district from its operations remaining after paying from such revenues all expenses of operation and maintenance, and secondarily from taxes. [Amended by 1959 c.548 §2; 1967 c.293 §24; 1983 c.83 §35; 1987 c.267 §72; 1991 c.459 §356; 1993 c.18 §45; 1995 c.712 §98; 2003 c.14 §126]

Chapter 261

Notes of Decisions

People's utility district does not possess exclusive right to provide service within boundaries of district. Douglas Electric Cooperative v. Central Lincoln People's Utility District, 164 Or App 251, 991 P2d 1060 (1999), Sup Ct review denied

Atty. Gen. Opinions

County clerk's and county governing body's duty to determine validity of voters' peti­tion to form people's utility district, (1980) Vol 40, p 367

Law Review Cita­tions

7 EL 315 (1977); 16 WLR 549 (1979)

1 Legislative Counsel Committee, CHAPTER 261—People's Utility Districts, https://­www.­oregonlegislature.­gov/­bills_laws/­Archive/­2007ors261.­pdf (2007) (last ac­cessed Feb. 12, 2009).
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2007, Chapter 261, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­261ano.­htm (2007) (last ac­cessed Feb. 12, 2009).
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information